The Kuoni Group has acquired Swedish luxury tour operator Lime Travel AB effective 28 February 2011. The Stockholm-based company is a specialist in offering tailored long-haul travel arrangements. The acquisition will further expand Kuoni’s activities in the Scandinavian premium travel sector. Kuoni also expects to derive synergies between its new acquisition and its existing high-value Kuoni products.
Lime Travel AB was founded in Stockholm in 1995, and generated turnover of around CHF 9.3 million last year. All its 14 employees will be retained, and the present co-owner and company CEO will also remain responsible for the company. The parties have agreed not to divulge the purchase price involved. Lime Travel will be integrated into the Swedish unit of the Kuoni Group’s Division Market Region North.
Lime Travel is one of Sweden’s leading luxury tour operators and offers tailored-made travel arrangements, with a particular focus on Mauritius, Bali, the Maldives and the Caribbean. The company’s products are sold almost exclusively through direct customer contact at its own travel offices and over the phone. Lime Travel has no flight or hotel capacity risks.
“In acquiring Lime Travel, we are expanding our business activities in the Swedish luxury travel sector,” says Leif Vase Larsen, Executive Vice-President Northern Region of the Kuoni Group and CEO of Kuoni Scandinavia. “Our new acquisition should also offer synergies with the existing premium Kuoni products. And, at the same time, it should enable us to expand our luxury travel business into our Norwegian and Danish markets.”
